CARR vs. ITW: Carrier Global vs. Illinois Tool Works Stock Comparison

November 11, 2026

How do Carrier Global (CARR) and Illinois Tool Works (ITW) stack up? This page sets them side by side across company profile, performance and risk, profitability, growth, financial strength, dividends, and valuation, with selected fundamentals also measured against each stock's industry-group peers.

Company Profile

Carrier Global (CARR) and Illinois Tool Works (ITW) both fall under the Capital Goods industry group, but CARR is classified in Building Products while ITW is classified in Machinery.

Illinois Tool Works (ITW) has more than two decades of public-market history since March 13, 1973, whereas Carrier Global (CARR) listed on March 19, 2020 and has a much shorter record to draw on.

Company profile comparison for Carrier Global (CARR) and Illinois Tool Works (ITW)
Profile Item	CARR	ITW
Name	Carrier Global Corp.	Illinois Tool Works Inc.
Country/Region	United States	United States
GICS Sector	Industrials	Industrials
GICS Industry Group	Capital Goods	Capital Goods
GICS Industry	Building Products	Machinery
GICS Sub-Industry	Building Products	Industrial Machinery & Supplies & Components
Market Capitalization	42.86 billion USD	79.85 billion USD
Currency	USD	USD
Exchange	NYSE	NYSE
Listing Date	March 19, 2020	March 13, 1973
Security Type	Common Stock	Common Stock

Price Performance

Cumulative Growth

CARR

ITW

GSPC

Carrier Global (CARR) vs. Illinois Tool Works (ITW), with S&P 500 (GSPC) for reference: Growth of a $10,000 investment over the past five years. Adjusted for dividends and splits.

Trailing Returns

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Trailing total returns for Carrier Global (CARR) and Illinois Tool Works (ITW). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for Carrier Global (CARR) and Illinois Tool Works (ITW). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Price performance metrics for Carrier Global (CARR) and Illinois Tool Works (ITW)
Metric	CARR	ITW
Total Return (1Y)	-4.90%	20.29%
Total Return (3Y, Annualized)	3.62%	10.62%
Total Return (5Y, Annualized)	1.11%	6.67%

Risk Profile

Drawdown History

CARR

ITW

GSPC

Carrier Global (CARR) vs. Illinois Tool Works (ITW), with S&P 500 (GSPC) for reference: Drawdown from the running peak over the past five years. Each line shows the decline from its prior peak; 0% marks a new high.

Return Distribution

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Distribution of monthly total returns for Carrier Global (CARR) and Illinois Tool Works (ITW). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for Carrier Global (CARR) and Illinois Tool Works (ITW)
Metric	CARR	ITW
Volatility (1Y, Annualized)	35.35%	22.16%
Beta (5Y)	1.32	0.91
Max Drawdown (5Y)	-39.75%	-28.05%
Avg. Volume (3M)	6.08M	1.27M

Risk-Adjusted Performance

Risk-Return Positioning

CARR and ITW are plotted by 1-year volatility (risk) and 1-year return. The dashed Capital Allocation Line runs from the risk-free rate through the shared industry median.

Risk-Adjusted Metrics

Risk-adjusted metrics for Carrier Global (CARR) and Illinois Tool Works (ITW)
Metric	CARR	ITW
Sharpe Ratio (1Y)	-0.26	0.72
Sortino Ratio (1Y)	-0.36	1.12

Profitability

ROE (TTM)

Carrier Global (CARR) reports a negative ROE of -13.44%; negative ROE can reflect losses or negative shareholders’ equity, so it is harder to read as capital efficiency. Meanwhile Illinois Tool Works (ITW) reports 101.65%, ranking against industry peers normally.

CARR

Capital Goods industry group

-13.44%

Max: 40.55%
Q3: 19.29%
Median: 12.12%
Q1: 4.08%
CARR: -13.44%
Min: -17.12%

ITW

Capital Goods industry group

101.65%

ITW: 101.65%
Max: 40.55%
Q3: 19.29%
Median: 12.12%
Q1: 4.08%
Min: -17.12%

Carrier Global (CARR) vs. Illinois Tool Works (ITW): A comparison of their ROE against the Capital Goods industry group benchmark.

Net Margin (TTM)

Carrier Global (CARR) reports a negative net margin of -7.90%, usually indicating a net loss over the period. Meanwhile Illinois Tool Works (ITW) reports 19.39%, ranking against industry peers normally.

CARR

Capital Goods industry group

-7.90%

Max: 27.47%
Q3: 12.10%
Median: 6.30%
Q1: 1.40%
CARR: -7.90%
Min: -12.89%

ITW

Capital Goods industry group

19.39%

Max: 27.47%
ITW: 19.39%
Q3: 12.10%
Median: 6.30%
Q1: 1.40%
Min: -12.89%

Carrier Global (CARR) vs. Illinois Tool Works (ITW): A comparison of their net margin against the Capital Goods industry group benchmark.

Operating Margin (TTM)

Illinois Tool Works (ITW) at 28.05% operates in the top operating margin quartile, ahead of Carrier Global (CARR) at 11.00%, which runs around its industry’s norm.

CARR

Capital Goods industry group

11.00%

Max: 36.60%
Q3: 18.33%
Median: 11.12%
CARR: 11.00%
Q1: 5.14%
Min: -12.63%

ITW

Capital Goods industry group

28.05%

Max: 36.60%
ITW: 28.05%
Q3: 18.33%
Median: 11.12%
Q1: 5.14%
Min: -12.63%

Carrier Global (CARR) vs. Illinois Tool Works (ITW): A comparison of their operating margin against the Capital Goods industry group benchmark.

Profitability Metrics

Profitability metrics for Carrier Global (CARR) and Illinois Tool Works (ITW)
Metric	CARR	ITW
ROE (TTM)	-13.44%	101.65%
ROA (TTM)	3.43%	17.13%
Net Margin (TTM)	-7.90%	19.39%
Operating Margin (TTM)	11.00%	28.05%
Gross Margin (TTM)	24.38%	44.32%

Growth

Revenue Growth

Both Carrier Global (CARR) at -3.29% and Illinois Tool Works (ITW) at 0.92% post bottom-quartile revenue growth versus peers, pointing to weaker demand or pricing momentum than typical rivals.

Carrier Global (CARR) vs. Illinois Tool Works (ITW): A comparison of their Revenue Growth across different time periods.

EPS Growth

Illinois Tool Works (ITW) at -10.42% is around its peer norm for EPS growth, while Carrier Global (CARR) at -72.03% drops into the bottom quartile, signaling weaker earnings momentum.

Carrier Global (CARR) vs. Illinois Tool Works (ITW): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for Carrier Global (CARR) and Illinois Tool Works (ITW)
Metric	CARR	ITW
Revenue Growth (YoY)	-3.29%	0.92%
Revenue Growth (3Y CAGR)	7.95%	0.23%
EPS Growth (YoY)	-72.03%	-10.42%
EPS Growth (3Y CAGR)	-25.14%	2.40%

Financial Strength

Current Ratio (MRQ)

Both Carrier Global (CARR) at 1.00 and Illinois Tool Works (ITW) at 1.29 run current ratio in the tighter-liquidity quartile of industry peers, leaving thinner cushions against current liabilities than typical competitors.

CARR

Capital Goods industry group

1.00

Max: 5.22
Q3: 2.95
Median: 2.08
Q1: 1.43
CARR: 1.00
Min: 0.36

ITW

Capital Goods industry group

1.29

Max: 5.22
Q3: 2.95
Median: 2.08
Q1: 1.43
ITW: 1.29
Min: 0.36

Carrier Global (CARR) vs. Illinois Tool Works (ITW): A comparison of their current ratio against the Capital Goods industry group benchmark.

Debt / Equity (MRQ)

Both balance sheets lean debt-heavy versus peers, but ITW is more stretched: Carrier Global (CARR) at 1.14 sits in the higher-leverage quartile and Illinois Tool Works (ITW) at 2.98 is above its industry benchmark range.

CARR

Capital Goods industry group

1.14

Max: 2.33
CARR: 1.14
Q3: 1.12
Median: 0.60
Q1: 0.29
Min: 0.00

ITW

Capital Goods industry group

2.98

ITW: 2.98
Max: 2.33
Q3: 1.12
Median: 0.60
Q1: 0.29
Min: 0.00

Carrier Global (CARR) vs. Illinois Tool Works (ITW): A comparison of their debt-to-equity ratio against the Capital Goods industry group benchmark.

Financial Strength Metrics

Financial strength metrics for Carrier Global (CARR) and Illinois Tool Works (ITW)
Metric	CARR	ITW
Current Ratio (MRQ)	1.00	1.29
Debt / Equity (MRQ)	1.14	2.98
Net Debt / EBITDA	3.24	1.76

Dividends

Dividend Yield (TTM)

Both Carrier Global (CARR) at 1.80% and Illinois Tool Works (ITW) at 2.29% offer top-quartile dividend income relative to share price within their industries.

CARR

Capital Goods industry group

1.80%

Max: 2.66%
CARR: 1.80%
Q3: 1.14%
Median: 0.24%
Q1: 0.00%
Min: 0.00%

ITW

Capital Goods industry group

2.29%

Max: 2.66%
ITW: 2.29%
Q3: 1.14%
Median: 0.24%
Q1: 0.00%
Min: 0.00%

Carrier Global (CARR) vs. Illinois Tool Works (ITW): A comparison of their dividend yield against the Capital Goods industry group benchmark.

Dividend Payout Ratio (TTM)

Both Carrier Global (CARR) at 67.39% and Illinois Tool Works (ITW) at 58.43% pay out an above-typical share of earnings for their industries, leaving thinner cover if profits dip.

CARR

Capital Goods industry group

67.39%

CARR: 67.39%
Max: 67.39%
Q3: 28.02%
Median: 6.86%
Q1: 0.00%
Min: 0.00%

ITW

Capital Goods industry group

58.43%

Max: 67.39%
ITW: 58.43%
Q3: 28.02%
Median: 6.86%
Q1: 0.00%
Min: 0.00%

Carrier Global (CARR) vs. Illinois Tool Works (ITW): A comparison of their payout ratio against the Capital Goods industry group benchmark.

Dividend Metrics

Dividend metrics for Carrier Global (CARR) and Illinois Tool Works (ITW)
Metric	CARR	ITW
Dividend Yield (TTM)	1.80%	2.29%
Dividend Payout Ratio (TTM)	67.39%	58.43%

Valuation

P/E Ratio (TTM)

An earnings multiple is available for just one side: Illinois Tool Works (ITW) trades at 25.06 times trailing earnings, ranked against its peers, while Carrier Global (CARR) has no P/E ratio this period.

CARR

Capital Goods industry group

Max: 59.38
Q3: 35.92
Median: 25.41
Q1: 19.47
Min: 3.03
CARR: --

ITW

Capital Goods industry group

25.06

Max: 59.38
Q3: 35.92
Median: 25.41
ITW: 25.06
Q1: 19.47
Min: 3.03

Carrier Global (CARR) vs. Illinois Tool Works (ITW): CARR does not report P/E ratio, so it has no value marker; ITW is benchmarked against the Capital Goods industry group.

P/S Ratio (TTM)

Carrier Global (CARR) at 1.88 is priced about in line with its industry on P/S ratio, while Illinois Tool Works (ITW) at 4.80 sits in the pricier quartile — ITW costs more per dollar of sales.

CARR

Capital Goods industry group

1.88

Max: 7.54
Q3: 3.76
Median: 2.15
CARR: 1.88
Q1: 1.03
Min: 0.03

ITW

Capital Goods industry group

4.80

Max: 7.54
ITW: 4.80
Q3: 3.76
Median: 2.15
Q1: 1.03
Min: 0.03

Carrier Global (CARR) vs. Illinois Tool Works (ITW): A comparison of their P/S ratio against the Capital Goods industry group benchmark.

P/B Ratio (MRQ)

Carrier Global (CARR) at 4.27 sits near its industry’s typical P/B ratio, while Illinois Tool Works (ITW) at 25.42 prices above its benchmark range — ITW looks rich relative to book.

CARR

Capital Goods industry group

4.27

Max: 9.66
Q3: 5.00
CARR: 4.27
Median: 3.12
Q1: 1.81
Min: -1.08

ITW

Capital Goods industry group

25.42

ITW: 25.42
Max: 9.66
Q3: 5.00
Median: 3.12
Q1: 1.81
Min: -1.08

Carrier Global (CARR) vs. Illinois Tool Works (ITW): A comparison of their P/B ratio against the Capital Goods industry group benchmark.

Valuation Metrics

Valuation metrics for Carrier Global (CARR) and Illinois Tool Works (ITW)
Metric	CARR	ITW
P/E Ratio (TTM)	--	25.06
P/S Ratio (TTM)	1.88	4.80
P/B Ratio (MRQ)	4.27	25.42
Free Cash Flow Yield (TTM)	4.54%	2.89%